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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses welcome to the world leader in derivatives. welcome to superderivatives. >>> we already bailed out a couple of its auto companies, but now should the federal government bail out the entire city of detroit? incredibly, some say yes. ahead of president obama's visit to detroit monday, that will be his first in nearly eight months, detroit councilwoman e joe -- joanne watson thinks so. >> our people overwhelmingly supported president obama and quid pro quo. >> joining me is doc thompson of talk radio 1270 wxyt. doc, welcome. let me start without this thought. if you have a federal bailout of detroit, doesn't that mean that citizens, taxpayers of texas, let's say, would
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses welcome to the world leader in derivatives. welcome to superderivatives. >>> we already bailed...
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and when the economy stalls, when the economy sputers, when people lose their jobs, they know which party to blame, the party of high taxes. let's don't be the party of just almost as high taxes. >> some people have called that the doomsday scenario. others have said it's a strategic retreat on the republicans' behalf. would you vote present for that in the senate if it comes up? >> i don't think we have to in the senate. i'm happy not to filibuster it and i will announce tonight on your show that i will work with harry reid to let him pass his big old tax hike with a simple majority if that's what harry reid wants because then they will be the party of high taxes and they can own it. >> i want to ask you one quickie. your friend and mine, senator jim demint, resigning from the senate. going to take over as head of the heritage foundation. he is a great free market defender of capitalism. what do you make of jim demint leaveliing the senate? >> i think there's two ways to look t a it. the way i look at it, i've jokingly said he's going to a better place. but i really am serious about that
and when the economy stalls, when the economy sputers, when people lose their jobs, they know which party to blame, the party of high taxes. let's don't be the party of just almost as high taxes. >> some people have called that the doomsday scenario. others have said it's a strategic retreat on the republicans' behalf. would you vote present for that in the senate if it comes up? >> i don't think we have to in the senate. i'm happy not to filibuster it and i will announce tonight on...
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i think, also, yes, we're a vibrant economy. we certainly are a strong economy. i think it's really unsustainable, the level of debt that we have in this country. we have $1 trillion in debt. i heard an incredibly succinct way of describing this. rick santelli actually said it this morning about how you can't say you're cutting $800 billion when really $80 billion is really from wars that are just going away. that's not really a cut. that's taking away the addition. i think you need to be pretty conservative. i think there's going to be a rally here year end, but you have to buy conservative cash flow and look overseas. i just don't think things are as rosy as everybody thinks. >> yeah, it's a goods point. i know a couple more people who agree with you on that. let me ask you this, michael. apple, stock was under pressure. it's been in a real free fall lately after hitting the highs of the year. what do you want to do with apple here? >> now i'm going to get optimistic, maria. i think that apple is really having a problem right now in terms of their pipeline gett
i think, also, yes, we're a vibrant economy. we certainly are a strong economy. i think it's really unsustainable, the level of debt that we have in this country. we have $1 trillion in debt. i heard an incredibly succinct way of describing this. rick santelli actually said it this morning about how you can't say you're cutting $800 billion when really $80 billion is really from wars that are just going away. that's not really a cut. that's taking away the addition. i think you need to be...
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this is not for want of having tax relief in the economy. it's for want of having spending in the economy. >> very good. good to hear from you again, laura. thank you for joining us. >> thank you very much. appreciate it. >> thank you. have a great weekend. >>> as if you needed another reason to worry about your 401(k), changes could be coming that you need to know about and you cannot afford to miss it next. >>> also, ugly week for apple stock, but is it on the verge of getting hot again? we'll have the apple trade coming up in a few minutes. >>> time to toast today's close with this. if you're open, they will shop. according to a recent reuters survey, 30% said they shopped on thanksgiving day, slightly more than the 29% who said they shopped on black friday. so which retailer is gearing up for the last-minute holiday rush? find out next. with the spark cash card from capital one, olaf gets great rewards for his small business! pizza! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it o
this is not for want of having tax relief in the economy. it's for want of having spending in the economy. >> very good. good to hear from you again, laura. thank you for joining us. >> thank you very much. appreciate it. >> thank you. have a great weekend. >>> as if you needed another reason to worry about your 401(k), changes could be coming that you need to know about and you cannot afford to miss it next. >>> also, ugly week for apple stock, but is it on...
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there's planning for a much more compressed economy. they'll be much more conservative. they're waiting and seeing. at this point, it really pivots. whether you're growing 2% or 3% as an economy or contracting 2% or 3%, that's a big delta to navigate through. they have plans in place for both scenarios. >> the plans in place, does that include layoffs? >> for some companies, as they're reporting themselves, it does. particularly depending on where the cuts come. remember, the cliff itself is a pretty austere measure. we're going to take spending not related to health care, social security to historic lows. industries like aerospace and defense in particular. through the defense cuts, they'll be substantially impacted. >> we'll leave it there. thanks for being on the program. >> thanks for having me. >> so much for the fiscal cliff. why is the head of td bank group so bullish on the united states right now? he'll join me for another cnbc exclusive next. we'll also talk about his company's earnings. >>> later, will the shaky global economy throw a wrench into luxury goods
there's planning for a much more compressed economy. they'll be much more conservative. they're waiting and seeing. at this point, it really pivots. whether you're growing 2% or 3% as an economy or contracting 2% or 3%, that's a big delta to navigate through. they have plans in place for both scenarios. >> the plans in place, does that include layoffs? >> for some companies, as they're reporting themselves, it does. particularly depending on where the cuts come. remember, the cliff...
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>> meaning there is a major skill mismatch in this economy. even chairman bernanke hinted that the in a speech two weeks ago. i don't think we can down play this mismatch. it's for real. >> in other words, not enough skilled workers. >> for all jobs. >> aurks i want to bring up a policy question. to joe's point, maybe the programs that have been put in place -- when you think about the money, the stimulus, everything that's gone into trying to make this recovery real in the economy and get jobs created, and we're still at this stage. i mean, maybe the programs that were put in place weren't right. maybe they should have been more skill matching programs. >> if by that you're saying unemployment insurance, that's a complete misnomer. first of all, you can't get unemployment benefits unless you're actively looking for work. if the people at the unemployment benefits office find out you were offered a job and you're turning it down, you lose your benefits. i think that part of the story would bear a little more scrutiny rather than just taking it
>> meaning there is a major skill mismatch in this economy. even chairman bernanke hinted that the in a speech two weeks ago. i don't think we can down play this mismatch. it's for real. >> in other words, not enough skilled workers. >> for all jobs. >> aurks i want to bring up a policy question. to joe's point, maybe the programs that have been put in place -- when you think about the money, the stimulus, everything that's gone into trying to make this recovery real in...
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i don't think the economy is strong enough to have continued quarterly increases. i think we're going to see this probably for the next six months. you're going to have some good reports. jobless claims will probably get better going fod.
i don't think the economy is strong enough to have continued quarterly increases. i think we're going to see this probably for the next six months. you're going to have some good reports. jobless claims will probably get better going fod.
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the economy is strong. it's going to get stronger. >> what evidence do you have these guys are not just going to go over the fiscal cliff? we heard tim geithner on this program yesterday when steve asked him, look f you don't get what you want, do we go over the fiscal cliff? he said absolutely. >> he said he would do it! >> what happens when we wake up january nd, we go over the cliff, and the world doesn't end? >> that is so irresponsible. >> you have to be a long-term investor. long-term stocks have outperformed bonds. >> with all do respect, george, are you one of those come play september investors larry is referring to? >> i'd say we're opposite of that. we never take anything for granted, but we bet accordingac. bonds are trouble. a lot of people are going to lose a lot of money in bonds. you have to be prepared for that. interest rates are going to go up. dividends are going to continue to increase. the economy in this country is strong. it's going to get stronger. >> even at 44% dividend tax? >> it
the economy is strong. it's going to get stronger. >> what evidence do you have these guys are not just going to go over the fiscal cliff? we heard tim geithner on this program yesterday when steve asked him, look f you don't get what you want, do we go over the fiscal cliff? he said absolutely. >> he said he would do it! >> what happens when we wake up january nd, we go over the cliff, and the world doesn't end? >> that is so irresponsible. >> you have to be a...
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stocks go up because the economy is recovering. if we were talking about the fiscal cliff two years ago they would never be able to let this fall through because we were close to recessionary times. we're out of recession. housing prices are beginning to recover. jobs are starting to come back. we're seeing, i think, a manufacturing renaissance back to north america. that is going to be positive through this. >> how much are you hanging your bullish hat on the amount of cash on the sidelines? you've identified already identified that. the fact corporations need to put that money to work, we're underinvested. your bullish call, seems to me, is based on those corporations finally getting off the dime and putting that money to work. is that the idea? >> it's a big part of it. how investment works, right, you build up capacity from a scarcity level, right? you have too much capacity and correct back down again. that was the '90s. we took on a bunch of capacitity and then the first ten years of this millennium we stripped out capacity w
stocks go up because the economy is recovering. if we were talking about the fiscal cliff two years ago they would never be able to let this fall through because we were close to recessionary times. we're out of recession. housing prices are beginning to recover. jobs are starting to come back. we're seeing, i think, a manufacturing renaissance back to north america. that is going to be positive through this. >> how much are you hanging your bullish hat on the amount of cash on the...
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and it's going to help the economy. so this is a very favorable outcome. >> thank you very much for joining us today, harley. thanks for bringing these jobs back here. >>> the other big issue in the job market -- the lack of skilled workers. it is actually becoming a big issue for builders. diana olick is on that story. diana, what happened to all the construction workers that were out of work a couple years ago? where did they go? >> reporter: well, about 2 million of them, believe it or not, left the workforce during the housing crash. this is residential and non-residential construction. because this crash has gone on for going on five years now, a lot of those workers were retrained in other careers and are actually not coming back to home building. that's why the builders are saying they need skilled workers. skilled workers like these students here at the potomac job corps who are learning the trade quickly because there's finally demand for them. >> do you see a number of employers in this space doing the trainin
and it's going to help the economy. so this is a very favorable outcome. >> thank you very much for joining us today, harley. thanks for bringing these jobs back here. >>> the other big issue in the job market -- the lack of skilled workers. it is actually becoming a big issue for builders. diana olick is on that story. diana, what happened to all the construction workers that were out of work a couple years ago? where did they go? >> reporter: well, about 2 million of...
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economy. >> more in 2012 than they otherwise would have gotten. >> absolutely. >> maybe after the first of the year with all these folk, see more spending on luxury items as well. people probably spend some. >> we hope so. >> sue, thanks. >>> guys, we are watching shares of facebook today the social media giant unveiling a new tweak to its instant messaging app. facebook up just about 2%. you don't even have to be a member to use this new app and julie boorstin is in los angeles with the three things you need to know this deal. hi, julia. >> hi, sue. well, facebook is continuing its big push to make money on mobile users by offering its messenger app to billions of people around the world with phones and no longer limiting that app to facebook users. here's the deal. first, mobile messenger is a free app for texting, group chat and photo sharing with no per-text fees. just carrier's regular data costs. doesn't yet yield direct revenues to facebook but it is serving as a gateway to join the soc
economy. >> more in 2012 than they otherwise would have gotten. >> absolutely. >> maybe after the first of the year with all these folk, see more spending on luxury items as well. people probably spend some. >> we hope so. >> sue, thanks. >>> guys, we are watching shares of facebook today the social media giant unveiling a new tweak to its instant messaging app. facebook up just about 2%. you don't even have to be a member to use this new app and julie...
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18% say yes, the economy is getting stronger. 32% say no. more americans have just stopped looking for jobs. 16% say the jury is out, still worried about the fiscal cliff and 34% say i think the number is bogus to begin with. let's see what's coming up on "street signs." >>> wow. not sure i can top that one, tyler. but thank you. have we become a nation of pessimists whether our expectations for job creation has dropped so low or are we just realists? netflix ceo getting himself into hot water with a facebook post. does the s.e.c. really have a case against him or do the laws need to change with regard to social media? >>> and could pot help us solve our fiscal problems? guys, we are calling this the fiscal splif and we will rise above it, mon. "street signs" it is australian for business news. >> thanks, brian. see you at 2:00 p.m. >>> steve case is one of america's greatest entrepreneurs, best known as co-founder of america online, along with dozens of other investments such as living social and zip car and really too many to name. these d
18% say yes, the economy is getting stronger. 32% say no. more americans have just stopped looking for jobs. 16% say the jury is out, still worried about the fiscal cliff and 34% say i think the number is bogus to begin with. let's see what's coming up on "street signs." >>> wow. not sure i can top that one, tyler. but thank you. have we become a nation of pessimists whether our expectations for job creation has dropped so low or are we just realists? netflix ceo getting...
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one of our next guests says they hurt the economy more than they help and he calls them jobs killers. a heated debate on the death tax coming up here. >>> but coming up next, more republican lawmakers are saying they are open to higher tax rates on the rich if they come with spending cuts. that's a really big if. we're going to speak with one gocongressman who will lay out the spending cuts he would like to see, he needs to see in order to vote on the higher taxes. >>> and we wanted to give you a heads up on a hot slide show on cnbc.com that highlights predictions that went wrong this year. one great example, doomsday forecast that the u.s. bond market would go bust. thankfully that did not happen. quite the opposite, as a matter of fact. there's more on the cnbc.com. check it out on our website. we're back on tv in just a moment. tdd# 1-800-345-2550 you should've seen me today. tdd# 1-800-345-2550 when the spx crossed above its 50-day moving average, tdd# 1-800-345-2550 i saw the trend. tdd# 1-800-345-2550 it looked really strong. tdd# 1-800-345-2550 and i jumped right on it. tdd# 1-
one of our next guests says they hurt the economy more than they help and he calls them jobs killers. a heated debate on the death tax coming up here. >>> but coming up next, more republican lawmakers are saying they are open to higher tax rates on the rich if they come with spending cuts. that's a really big if. we're going to speak with one gocongressman who will lay out the spending cuts he would like to see, he needs to see in order to vote on the higher taxes. >>> and we...
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what is the impact on the economy? >> for the government, the biggest impact n 1986, we'd similar thing, capital gains went from 20% to 28%. what happened is capital gains collections doubled in 1986 and then fell by half the following year, we can expect our government will have more than expected tax revenues this year and next year, when taxes go up, everyone will say, see, the tax hikes didn't work, we actually collected less revenue. and so the danger is we build program of this year's revenue, forecast base on this year's tax revenue and fall short next year. it could impact spending this money is not out there not generating jobs, not buying things or, you know, building things. >> got leave it there great stuff as always. thanks very much. >>> coming up next, flu fears starting early this year. why this flu season could be the worst in years. >>> and later on, iran stays shot down an american drone. the navy says no you didn't. either way, our own phil lebeau has firsthand experience with a small drone playing
what is the impact on the economy? >> for the government, the biggest impact n 1986, we'd similar thing, capital gains went from 20% to 28%. what happened is capital gains collections doubled in 1986 and then fell by half the following year, we can expect our government will have more than expected tax revenues this year and next year, when taxes go up, everyone will say, see, the tax hikes didn't work, we actually collected less revenue. and so the danger is we build program of this...
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economy needs is giving a larger footprint to the chinese system. china's corporate criminals who are often inditing wishable. we don't want to give the chinesing nomic sift apple larger footprint into american capitalism. secondly, this makes a mock rift green energy policies. the main rational for which was we don't want these so-called industries of the future controlled by foreign countries and by foreign companies. and here we are, transferring all of this property over to a chinese company. and there was an american buyer. there was an american buyer. an american-owned option. >> on that point, alan, is there any sensitive technology or information that is going to be given to the chinese through this trance ak. >> that's a great question, mandy. you are broadcasting from northern jersey, right sni think you recently you learned how important electricity grids are, right? when you don't have electrical power bb life becomes very bad. a123 is making product that helps control the electricity grid system. do we want the chinese owning this techn
economy needs is giving a larger footprint to the chinese system. china's corporate criminals who are often inditing wishable. we don't want to give the chinesing nomic sift apple larger footprint into american capitalism. secondly, this makes a mock rift green energy policies. the main rational for which was we don't want these so-called industries of the future controlled by foreign countries and by foreign companies. and here we are, transferring all of this property over to a chinese...
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if we get a deal and it's good for the economy, millionaires would grow by 230,000 and their fortunes would soar by $1 trillion. yo under score the cost of the cliff, if no threat of a cliff at all, the number of millionaires would grow by 443,000, a 9% increase. the difference between no cliff and going over the cliff is more than 750,000 millionaires, or about $1.3 trillion in worth, the gdp of canada. i'm looking at the impact of economic growth on millionaires, not attacks which could reduce that growth but a cliff deal alone could be worth $1 trillion in new wealth and new millionaires. another reason why the folks in washington should keep on talking. >> really interesting stuff. so, while we have you, robert, let's talk about what we learned on oracle, announcing plans to pay out second quarter, third quarter and fourth quarter dividends this month. what is ceo larry ellison's cut on this? is it $199 million as reported a minute ago? >> it sounds like it's around $200 million. you had that great interview with him where he's talking about his dream of buying the lakers. this mi
if we get a deal and it's good for the economy, millionaires would grow by 230,000 and their fortunes would soar by $1 trillion. yo under score the cost of the cliff, if no threat of a cliff at all, the number of millionaires would grow by 443,000, a 9% increase. the difference between no cliff and going over the cliff is more than 750,000 millionaires, or about $1.3 trillion in worth, the gdp of canada. i'm looking at the impact of economic growth on millionaires, not attacks which could...
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do you expect the economy to go over the fiscal cliff? what kind of reaction might we see in the market if that were to materialize? >> well, if we saw the market sell off in a big way, i don't think anybody believes we're going to go over the fiscal cliff. there will be some sort of resolution. they'll come up with some tax cuts, some breaks in spending, and probably kick the can down the road on a lot of it. i love the way this market is acting. it's not selling off with all the bad news, all the bickering, all the bad words on each side. you've got to love the way that this market is holding up here. doesn't mean investors need to be carefree, but overall, it looks like the market is setting up with a lot of negative sentiment out there. looks like there's a lot of opportunity for a big run higher once we get some form of resolution. i really believe we're going to get it. >> you think by year end? >> i really do. i think they want to go home for christmas. they're not going to want to not go home for christmas. you can always count on
do you expect the economy to go over the fiscal cliff? what kind of reaction might we see in the market if that were to materialize? >> well, if we saw the market sell off in a big way, i don't think anybody believes we're going to go over the fiscal cliff. there will be some sort of resolution. they'll come up with some tax cuts, some breaks in spending, and probably kick the can down the road on a lot of it. i love the way this market is acting. it's not selling off with all the bad...
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this is a deal that needs to happen for the economy to move forward. yeah, maybe an mna transaction giv gives growth to one company and makes profitability better. this is a lot more important than doing an mna transaction. this is about people's lives. frankly, people want answers. i think the time for hiding everything under a rock is sort of like it was yesterday. >> it's not so much hiding it under a rock. it's getting to basic principles. one way the mna process is better is that people agree to it and have a multifaceted communication program. it isn't another debate. it isn't a series of, you know, this is my point of view, and if you don't agree with me, you're wrong and how could you think that way. it's organized, and it's sold. i don't mean improperly. we got the sec. we have the rest of it. it's explained in organized fashion. when you just go out and continually -- this has been an extension of the debates. it hasn't moved the needle at all. hopefully, behind the scenes stuff is going on. although, both sides claim that's not happening. >>
this is a deal that needs to happen for the economy to move forward. yeah, maybe an mna transaction giv gives growth to one company and makes profitability better. this is a lot more important than doing an mna transaction. this is about people's lives. frankly, people want answers. i think the time for hiding everything under a rock is sort of like it was yesterday. >> it's not so much hiding it under a rock. it's getting to basic principles. one way the mna process is better is that...
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goes down but i think the fact it goes up and, secondly, this whole question about the concern of the economy is out there. so i think that that's an issue. another question of buying the stock back, you know, i took this company private about 20 years back. and we spent almost $500 million in buying the stock back. it was great. it made sense. and today i think we need to make sure we have reasonable out there and we want to make sure that we take care of our other stakeholders. our stockholders and many other individuals makes sense. >> are you optimistic, and this will be my last question, are we going to get a deal in washington? are they going to solve this thing? are they going to rise above? >> you know they have to. and i think that it's not that complicated. running a business like ours, my focus always is increase revenues and manage costs. that is what we have to do, increase revenues and some taxes have to be increased. but then they also have to manage these costs. entitlements, medical, but it's not -- you know, it's simple. it's got to be done both ways. >> i'm going to get you
goes down but i think the fact it goes up and, secondly, this whole question about the concern of the economy is out there. so i think that that's an issue. another question of buying the stock back, you know, i took this company private about 20 years back. and we spent almost $500 million in buying the stock back. it was great. it made sense. and today i think we need to make sure we have reasonable out there and we want to make sure that we take care of our other stakeholders. our...
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, i think that economy turns around. ultimately i think yum is in an excellent position, they're doing well domestically in the u.s. with taco bell and pizza hut and i think the growth and expansion in china will come back. >> well, a crude reality for oil today, the commodities sliding roughly 2% so how low can black gold go? we'll make a pit stop to find out and special dividend craze continues, trading the latest names to pay back shareholders early. [ male announcer ] with wells fargo advisors envision planning process, it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. where you stand, turn to us. those little things for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and
, i think that economy turns around. ultimately i think yum is in an excellent position, they're doing well domestically in the u.s. with taco bell and pizza hut and i think the growth and expansion in china will come back. >> well, a crude reality for oil today, the commodities sliding roughly 2% so how low can black gold go? we'll make a pit stop to find out and special dividend craze continues, trading the latest names to pay back shareholders early. [ male announcer ] with wells fargo...
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why would a 200-month tax raise destroy the economy but spending $200 a month on a smartphone somehow doesn't? >> because of the aggregation problem. if you just look at one person it doesn't look so bad. but when you sum it up across 300 million americans and you factor in that 70% of our gdp is consumer spending, in europe it is about 55% so we're more dependent on the consumer for our growth -- then you understand why the congressional budget office -- i don't think they've ever done this before -- is actually predicting a recession if we go over an stay over the cliff. so for any one person, it might not be that big a deal -- although when you think about $2,000 over the course of a year for a family whose median income is about $5,000, that starts to sound like real money, too. but when you aggregate it up, you're really looking at a recession probably if we go over an stay off the cliff, unemployment reverses course, goes up to 9%, really ugly stuff. >> nifk cocole, does the averag american really understand what's going on? how much of this impact do they understand right now?
why would a 200-month tax raise destroy the economy but spending $200 a month on a smartphone somehow doesn't? >> because of the aggregation problem. if you just look at one person it doesn't look so bad. but when you sum it up across 300 million americans and you factor in that 70% of our gdp is consumer spending, in europe it is about 55% so we're more dependent on the consumer for our growth -- then you understand why the congressional budget office -- i don't think they've ever done...
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economy? we'll show you some stats to make you go -- hmm. we'll talk more about apple's slide, should microsoft's ceo steve ballmer get the boot if the surface fails. and we will introduce to you quite possibly the world's dumbest demolition crew. it involves a multi-million dollar bore chateau and really bad bulldozing. >> yikes. see you at 1:00, brian. thank you. >>> listen up wall street recruiters, a recent rash of college cheating scandals has shown academic dishonesty is unfortunately a very big problem on campus today. who are the worst offenders? tonight's premier of "faking the grade -- classroom cheaters," we'll tell you. they'll find out which students are most likely to cut corners in the battle to gain an edge. >> reporter: don mccabe and his canadian colleague collaborate on research. mccabe says in the u.s. business students cheat the most. engineering students are often near the top of the list. and so are communications and journalism students. women studied at one university said they don't cheat when they're in a women-onl
economy? we'll show you some stats to make you go -- hmm. we'll talk more about apple's slide, should microsoft's ceo steve ballmer get the boot if the surface fails. and we will introduce to you quite possibly the world's dumbest demolition crew. it involves a multi-million dollar bore chateau and really bad bulldozing. >> yikes. see you at 1:00, brian. thank you. >>> listen up wall street recruiters, a recent rash of college cheating scandals has shown academic dishonesty is...
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it when we ask people their views on the economy and their money. courtney reagan is here taking a look at what people told us about their most private thing. their spending habits. courtney. >> at least whether it comes to shopping, brian. that's right. if we can take a look at the cnbc all-america survey here at the wall. we're going to reveal some interesting insights into consumer shopping patterns over the black friday weekend. largely contrary to what we've heard from other organization's surveys, many retailers early up their black friday into thanksgiving thursday. 45% of those we surveyed disapproved of those thanksgiving hours. 18% approved and 37% said i don't have an opinion on that. the 45% disapproval could have played into the responses when we asked which of the following days consumers actually shopped in store over that weekend. 42% of those surveyed shopped in store over some point during that black friday weekend but only 4% of them -- at least so they claim -- took advantage of those thanksgiving hours compared to 16% of those w
it when we ask people their views on the economy and their money. courtney reagan is here taking a look at what people told us about their most private thing. their spending habits. courtney. >> at least whether it comes to shopping, brian. that's right. if we can take a look at the cnbc all-america survey here at the wall. we're going to reveal some interesting insights into consumer shopping patterns over the black friday weekend. largely contrary to what we've heard from other...
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when we look at it through the global lens, it's still not enough if the global economy grows by 3.1% as morgan stoply's economists expect. >> copper is getting a nice bid today. do you see that continuing and what about, you know, throughout the precious metal space? >> so on copper, first and foremost, copper is our favorite base metal amongst the base metals. you've seen a supply response in copper but that supply response has lagged the supply response you're seeing in some of the other base metals. we don't like the aluminiums, the zings, but we do like copper. the relatively low level of inventories in china and globally constructed for copper. now on your question with respect to precious metals, we like gold, we like gold since two,000 six when i joined morgan stoply and we continue to like it. solely because real rates are likely to remain depressed through 2013. the fed have been very clear on their policies. and growth is still very uncertain. our 3.1% gdpforecast depends on policy working, and that policy means, you know, low real rates going forward. >> you're looking for
when we look at it through the global lens, it's still not enough if the global economy grows by 3.1% as morgan stoply's economists expect. >> copper is getting a nice bid today. do you see that continuing and what about, you know, throughout the precious metal space? >> so on copper, first and foremost, copper is our favorite base metal amongst the base metals. you've seen a supply response in copper but that supply response has lagged the supply response you're seeing in some of...
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more evidence that chinese -- the chinese economy is growing. the pace of activity in that country is manufacturing sector picked up for the first time in 13 months. steve grasso is the director of institutional sales at stuart frankel. he joins us from the floor of the nyse with his china recovery play. good to see you. what are you looking at? >> good to see you. i did buy case steel, i did buy letter x and i did buy mt going into the end of month goldman conference. but i want to turn around. you can't pick the top of these names. i didn't want to overstay my welcome. i locked in about 10% in ak steel. 5 to 7% in letter x. and about 4% in mt. in about a week or so, week and a half. so i'm willing to roll the dice and say, hey, it could go up higher, but i would rather lock in my profit and not worry about what's going on, year-ends with fiscal cliff issues. >> grasso, good to see you. >> by the way, that was an amazing debate you just had there with joe and baker. they look like a presidential debate. that would make you candy crowley. >> fun
more evidence that chinese -- the chinese economy is growing. the pace of activity in that country is manufacturing sector picked up for the first time in 13 months. steve grasso is the director of institutional sales at stuart frankel. he joins us from the floor of the nyse with his china recovery play. good to see you. what are you looking at? >> good to see you. i did buy case steel, i did buy letter x and i did buy mt going into the end of month goldman conference. but i want to turn...
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mexico's economy is thriving, it just doesn't get talked about. i think kansas city southern is the way to benefit. >> all aboard! >> it's the nafta railroad except for it doesn't take away our jobs. don't move, "lightning round's" coming. >>> keep up with cramer all day long. follow @jimcramer on twitter and tweet your questions #madtweets. bp has paid over twenty-threebp billion dollarsnt to the gulf. to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> it is time -- it is time for the "lightning round" on cramer's "mad money." rapid fire calls, i tell you whether to buy or sell. play until this sound, and then the "lightning round" is over. are you ready skee-daddy? it's time for the "lightning round" on cramer's "mad money." starting with l
mexico's economy is thriving, it just doesn't get talked about. i think kansas city southern is the way to benefit. >> all aboard! >> it's the nafta railroad except for it doesn't take away our jobs. don't move, "lightning round's" coming. >>> keep up with cramer all day long. follow @jimcramer on twitter and tweet your questions #madtweets. bp has paid over twenty-threebp billion dollarsnt to the gulf. to help those affected and to cover cleanup costs. today, the...
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. >> although that hurts the economy, too. >> everything hurts the economy. so it's a question of which is most -- or least harmful and that tends to be cutting government spending. >> but i do think it's -- >> although tim geithner would disagree with me. >> one side wants to keep the government and entitlements like we have it. and the other side wants to take away all the excess government -- >> i think both sides agree that you need to do both. just a question of how much. >> we need to do both to do a deal. i don't think both sides dwre that it's the right thing to do. just to get a deal done. >> i think moderates in both parties -- >> people on the right think we're plenty big. and there are other people on the left that would like to do more social -- even grow government and pay for it up to 70%. so there are people. >> all right. when we come back, we'll talk about why manufacturing optimism is falling and falling fast. but first, gangnam style is on its way to racking up 1 billion views on youtube. with one song, this 34-year-old is set to become a
. >> although that hurts the economy, too. >> everything hurts the economy. so it's a question of which is most -- or least harmful and that tends to be cutting government spending. >> but i do think it's -- >> although tim geithner would disagree with me. >> one side wants to keep the government and entitlements like we have it. and the other side wants to take away all the excess government -- >> i think both sides agree that you need to do both. just a...
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but you're right about the economy. the broader economy. because in the aging of the population, and people retiring, the rate of growth in the labor force is going to slow. it already is slowing and the underlying growth rates in the economy are going to be weaker. here's the statistic of the day, the most important. the largest single age group in the country, there are more of these folks than any other age, joe, do you know what that is? do you want to take a guess at it? you may be the largest single age group. how old are you, joe? >> yeah -- >> 55 plus? >> 60 is the new 40, and i'm not 60 yet. i'm not 60 yet. >> time-out! >> tell me. >> it's 53. 53. >> that's around what i am. that's in the ballpark. >> yeah. >> standard deviation. >> so, another ten years from now, you know, we're going to be retiring. i'm actually 53. i represent the largest single age group. >> no, no, that's two words for you. andy rooney, i'm not retiring in ten years. >> okay. all right. >> mike wallace. >> a lot of people will be. a lot of other people will be
but you're right about the economy. the broader economy. because in the aging of the population, and people retiring, the rate of growth in the labor force is going to slow. it already is slowing and the underlying growth rates in the economy are going to be weaker. here's the statistic of the day, the most important. the largest single age group in the country, there are more of these folks than any other age, joe, do you know what that is? do you want to take a guess at it? you may be the...
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they are keeping the economy growing. i listened to what you just said and i heard similar things for the last 3 1/2 years whether it was dubai and bp oil spill or greece or spain or the deleveraging or foreclosures. any of these things that we're supposed to take us out and yet we keep moving. i think the fiscal cliff is another one of these. >> let me ask you about the timing then. deutsche bank had a note out yesterday where they suggested that central banks have bought us a six months of time on the markets. if pmis do not improve, will we see growth? what would you say to that view? >> i mean, i'm pretty simple on this. i do not believe and we could debate this probably all day that quantitative easing itself has helped the economy at all. banks put that money right back to the fed as excess reserves. it hasn't boosted money in the economy. i don't believe that we've seen a false rally or sugar high. i think the growth in the economy and growth in the markets has been driven by productivity and profits. i think it's
they are keeping the economy growing. i listened to what you just said and i heard similar things for the last 3 1/2 years whether it was dubai and bp oil spill or greece or spain or the deleveraging or foreclosures. any of these things that we're supposed to take us out and yet we keep moving. i think the fiscal cliff is another one of these. >> let me ask you about the timing then. deutsche bank had a note out yesterday where they suggested that central banks have bought us a six months...
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concerns over the uk economy. so we'll see how investors take to what's probably going to be a loosening up of the budget targets the chancellor set when they came into power. so we'll keep our eyes on that. and at the moment today, more talks in brussels. the greeks now getting their buy back program approved 37 trying to sort out a single supervisor. i think these talks will be fairly tricky because there is a majority who bt with a tant the be supervisor for all the banks. german didn't like that. so those talks will go on longer than originally hoped. but we are marginally higher going to the u.s. open. thank you. >> kelly, thank you. i'll just call you r kelly in now. >> that's not bad. >> ross, thank you. great to see you. >>> when we come back on squawk, bank of america ceo brian moynihan in his own words, we caught up with him yesterday to talk about business, the economy and the looming figure. as we head into a break, bank of america, best performing dow component of the year. up about 77%. ♪ [ male an
concerns over the uk economy. so we'll see how investors take to what's probably going to be a loosening up of the budget targets the chancellor set when they came into power. so we'll keep our eyes on that. and at the moment today, more talks in brussels. the greeks now getting their buy back program approved 37 trying to sort out a single supervisor. i think these talks will be fairly tricky because there is a majority who bt with a tant the be supervisor for all the banks. german didn't like...
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economy is still the driver of the world economy, still the biggest economy. if you're going to look for something to happen, look for consumers to come back and move and get production generated, it's going to be here, not somewhere else. so if the u.s. puts in austerity as you say, then that is going to drag on the economies around the rest of the world. and you're looking at, i think, more concerns, and that could go back to the dollar, surprisingly. >> kevin, why don't we talk about oil prices? we did see oil touch above $90 last week at the end of the week. but it was a very brief move, this morning back down around $88. what's driving things right now? is it geopolitical or more of a story about what's happening in economies around the world? >> merry fiscal cliff-mas to you. you're going to see more bouncing like a yo yo, on the fundamental story, the models we have pointing going into 1q, the reason, it sort of rhymes in the spirit of the season. you have non-opec demand growing, global demand slowing, it's not snowing, and down is where we're going. t
economy is still the driver of the world economy, still the biggest economy. if you're going to look for something to happen, look for consumers to come back and move and get production generated, it's going to be here, not somewhere else. so if the u.s. puts in austerity as you say, then that is going to drag on the economies around the rest of the world. and you're looking at, i think, more concerns, and that could go back to the dollar, surprisingly. >> kevin, why don't we talk about...
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that's why it's great gauge of the economy. so far american consumers are still spending away and he says that you can thank at least in part an improving housing market for that. carl? >> all right. thank you very much, becky. great stuff. thank you for sticking around. >> thank you. >> sticking with the cliff, governors are set to meet with president obama and congressional leaders. the meeting coming one day after the white house rejected a republican plan for averting the cliff. chi chief washington correspondent john harwood is outside of the white house this morning. how do business leaders change the equation? >> reporter: the president is trying to orchestrate a consensus behind his approach to deficit reduction. this is a group part of the national governors association executive committee. a diverse group. he carried three states he represents and governors include scott walker, leader of conservative government reform movement going after public employee pensions and shrink government obligations that way. governors
that's why it's great gauge of the economy. so far american consumers are still spending away and he says that you can thank at least in part an improving housing market for that. carl? >> all right. thank you very much, becky. great stuff. thank you for sticking around. >> thank you. >> sticking with the cliff, governors are set to meet with president obama and congressional leaders. the meeting coming one day after the white house rejected a republican plan for averting the...
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what is he saying about jobs and the economy? he'll lay it out for us after the break. >> and would you like van gogh with your morning coffee? maybe you need something more cutting edge. one company is putting the entire art world at your fingertips. we'll introduce you to the ceo of artsy coming up. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... all ] i'm with scottrade. ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offer
what is he saying about jobs and the economy? he'll lay it out for us after the break. >> and would you like van gogh with your morning coffee? maybe you need something more cutting edge. one company is putting the entire art world at your fingertips. we'll introduce you to the ceo of artsy coming up. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you...
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that that's not a big deal for the economy. everybody recognizes that it is. >> we keep hearing from critics that say, look, we get a frame work, it doesn't solve the long-term problems, it just kicks the can. you're in a position where you'll take some can kicking at this point, right? >> exactly. i mean, look, people like me started talking about this a year ago. i wrote a piece in the "wall street journal" in march about this. we have known about this forever, well, not forever, only since it started, and it's just being frustratingly little action. at this point i don't think they have the time to do a full deal and that's why they need to kick some cans. >> you say reaching a grand bar ga -- bargain is a dream and i mate be just that. there's a growing sense that the president in his words has won this round. do you think this is how it shaping up? >> i think so, i think he's got a much stronger bargaining position. he put out an officer that was way off where he knew republicans would be, prepared to come back on it. but
that that's not a big deal for the economy. everybody recognizes that it is. >> we keep hearing from critics that say, look, we get a frame work, it doesn't solve the long-term problems, it just kicks the can. you're in a position where you'll take some can kicking at this point, right? >> exactly. i mean, look, people like me started talking about this a year ago. i wrote a piece in the "wall street journal" in march about this. we have known about this forever, well, not...
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on the economy, i think it's pretty clear that nobody voted for four more years of the current economy. four more years to get his house in order and he's not going to get his house in order using the red herring of taxes when it's entitlemen entitlements. it just isn't going to work, simon. >> i get it. i'm just pointing out -- >> you know what, let's take jobless claims. >> i get it. >> over the last three days, jobless claims to sustain that renewal again which i think is a bad idea, that's 30 to $35 billion a year. i heard many democrats say that's a small amount, why shouldn't we do that? that's about halfway to the total amount they're talking about taxes. but whent's that, it's small. but when it's the 70 to $80 billion am toortized over ten years, all of a sudden it's big. i'm not saying don't raise taxes. if i signed the pledge, i would do it for good reasons. i haven't seen a good reason. i haven't seen a plan that promotes the big guy in the room. >> see you in the next hour, rick. rick santelli live in chicago on cnbc. >>> it's tweet time. a new study finds one in three ame
on the economy, i think it's pretty clear that nobody voted for four more years of the current economy. four more years to get his house in order and he's not going to get his house in order using the red herring of taxes when it's entitlemen entitlements. it just isn't going to work, simon. >> i get it. i'm just pointing out -- >> you know what, let's take jobless claims. >> i get it. >> over the last three days, jobless claims to sustain that renewal again which i...
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they're trying to inject money in a credit fashion into their economy. and we certainly think we can bring our fixed income expertise and continue to help them. >> that would make sense for cantor. ireland was the mf-will first they were in trouble, then the model for the world. what got them into trouble again, housing or real estate or something or bad banks or -- and now again they're kind of a model for everyone on how to handle it. is that basically the last five years? >> absolutely. certainly was a real estate bubble there. now there are austerity measures being put in place and they're actually following through on the austerity measures. so certainly they'll come out first and actually look pretty good. >> so where is the most business for you for cantor in ireland, what will you be doing? >> certainly it's an equity based firm. we'll bring our fixed income expertise, probably become the primary dealer there. the irish government will continue to have to have bond issuances as well as corporate debt will start to become a much bigger part of the
they're trying to inject money in a credit fashion into their economy. and we certainly think we can bring our fixed income expertise and continue to help them. >> that would make sense for cantor. ireland was the mf-will first they were in trouble, then the model for the world. what got them into trouble again, housing or real estate or something or bad banks or -- and now again they're kind of a model for everyone on how to handle it. is that basically the last five years? >>...
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and then there's the wall street economy. and i must tell you that i had this whole big plan out to give evidence and actually walk you through why i was convinced after last week that this recession call, no matter what happens with the fiscal cliff, is going to happen to 2013. but then i spoke with my greatest source in terms of the overall markets. this is the guy who gave u.s. the heads-up in terms of what's happening with apple when he follows the mutual fund holdings and that turned out to be the absolute best indicator on the top and when it became oversold. so this is what rich said to me, forget about what people are telling you in the real economy. when you manage money it's about what the stock market is thinking. these are the pivotal five reasons why the stock market will go higher into the end of the year and early next year. it's very simple. contra investment sentiment. you can't find anyone bullish on the stock market other than a handful of strategists. bond fund inflows. if we were anywhere near our top of
and then there's the wall street economy. and i must tell you that i had this whole big plan out to give evidence and actually walk you through why i was convinced after last week that this recession call, no matter what happens with the fiscal cliff, is going to happen to 2013. but then i spoke with my greatest source in terms of the overall markets. this is the guy who gave u.s. the heads-up in terms of what's happening with apple when he follows the mutual fund holdings and that turned out...
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it does less destruction to the economy. but the most important thing for anybody to look at, we spend so much time on revenue, is what is the spending? just like the first two months. revenue's gone up 10% with us doing nothing. spending has gone up 16%. >> all right. one thing that i knew that $800 billion number, i knew that sounded familiar. i wouldn't really quite place it. so that's ten years of raising the rates on the high end, but we got -- we spent that with one little stimulus plan, didn't we? just boom. wasn't that $800 billion. that's ten years of the high end and we spent that in the first year of his administration like it was -- i mean that was gone before -- i mean i wish we had that back then we wouldn't need this $800 billion. >> exactly. and look at this. the president's proposal, we get $31 billion from the high end this year but he proposes a $50 billion new stimulus package next year, as well. he will spend more. he's asking for more taxes to spend more. that will get us in a worse situation. the best
it does less destruction to the economy. but the most important thing for anybody to look at, we spend so much time on revenue, is what is the spending? just like the first two months. revenue's gone up 10% with us doing nothing. spending has gone up 16%. >> all right. one thing that i knew that $800 billion number, i knew that sounded familiar. i wouldn't really quite place it. so that's ten years of raising the rates on the high end, but we got -- we spent that with one little stimulus...
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roll over your old 401(k) into a fidelity ira and take control of your personal economy. this is going to be helpful. call or come in today. fidelity investments. turn here. yeah we both relieve coughs, sneezing, aches, fevers. and i relieve nasal congestion. overachiever. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. relieves nasal congestion. meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hybrid. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 pe
roll over your old 401(k) into a fidelity ira and take control of your personal economy. this is going to be helpful. call or come in today. fidelity investments. turn here. yeah we both relieve coughs, sneezing, aches, fevers. and i relieve nasal congestion. overachiever. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. relieves nasal congestion. meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight,...
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations. best of all, this plan has the lowest part d premium in the united states -- only $15 a month. open enrollment ends december 7th. so call today or visit your local walgreens.
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a...
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ woman ] ♪ what i want this season ♪ if you'd like to try and guess ♪ ♪ it is something very special ♪ i would readily confess [ dogs barking ] ♪ 'cause all i want this season ♪ ♪ is something from your heart ♪ la da da, la da da [ male announcer ] thinking of others this holiday season, travelers. >>> we're back with tonight's outer circle where we reach out to our sources around the world and we go to cairo where three advisers to president mohamed morsi have stepped down as violence has intensified. demonstrators set fire to oofss of the muslim brotherhood. reza is in cairo. >> reporter: president morsi thought he was going to have a cake walk to the nationwide referendum on december 15th on the co
rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ woman ] ♪ what i want this season ♪ if you'd like to try and guess ♪ ♪ it is something very special ♪ i would readily confess [ dogs barking ]...
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but most would agree this is an economy still struggling. so how are some businesses finding ways to keep their doors open while others are failing? our tom foreman looks for some answers in today's "american journey." >> reporter: amid the bustle of broadway, against the bad economy and the crushing competition, at the strand, the show goes on. started more than 80 years ago, this independent bookstore has beaten the odds. surviving the great depression, world war ii, and fred bass, who was a baby when his dad started the strand, says the store is enduring these tough times too. >> mainly by having gad books and good prices. lately we've been selling a lot of new books at discount. but it's mostly used book or bargain books we sell, antiquarian, out of print books. >> reporter: the eclectic approach allows it to appeal to a broad away of clients. like this rare signed copy of ulysses by james joyce. >> what are we selling this for? $25,000. a bargain, really. >> reporter: the strand's success is about more than inventory. employees top to b
but most would agree this is an economy still struggling. so how are some businesses finding ways to keep their doors open while others are failing? our tom foreman looks for some answers in today's "american journey." >> reporter: amid the bustle of broadway, against the bad economy and the crushing competition, at the strand, the show goes on. started more than 80 years ago, this independent bookstore has beaten the odds. surviving the great depression, world war ii, and fred...
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the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> as of today, we're 1433 days away from the next presidential election. >> for pollsters and politicians, it's not too soon to be thinking and looking ahead. jim acosta is here with some of the new numbers getting a lot of attention. >> and we're counting down those days, it's not that many. another sign that there is no cure, washington is buzzing with talk of 2016 just as voters are trying to put the last election behind them. some potential candidates are doing little to hide their intentio
the new 2013 ram 1500. ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america...
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with a turbo-charged ecoboost engines and a hybrid that doubles the fuel economy of the average vehicle. it's an entirely new idea of what a car can be. >>> so, if you thought the problem in syria was bad, how about this. the chemical weapons situation, the fear that perhaps bashar al assad might actually use chemical weapons on his own people now being exacerbated on a report that perhaps the blame is coming back to us and the accusation from the syrians that we're trying to actually get a hold of those chemical weapons and make it look like the syrian regime has done so. fareed zakari's back with us to talk about this report. it seems as though this is rather serious. only the government, assad's administration has sent a couple of letters to the u.n. suggesting this is all a big plot by the u.s. to get those weapons into the hands of opposition members and then blame the syrians. does this seem logical or like a reach? >> i think it's part of a strategy that the assad regime has decided upon, which is that america is the cause of this. that there is an internal group of terrorists su
with a turbo-charged ecoboost engines and a hybrid that doubles the fuel economy of the average vehicle. it's an entirely new idea of what a car can be. >>> so, if you thought the problem in syria was bad, how about this. the chemical weapons situation, the fear that perhaps bashar al assad might actually use chemical weapons on his own people now being exacerbated on a report that perhaps the blame is coming back to us and the accusation from the syrians that we're trying to actually...
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he's going to talk about the economy and fiscal cliff within the hour. we'll go to that live. >>> first to florida. that's where we learn new details about a long running mystery. in the town marianna and they have found more grave sites on the grounds a school that closed last century. nobody knows how many boys may be buried there and what abuse he suffer the at that school. ed lavandera spent years investigating the story, and he has the details. >> a mystery haunting the ground of this now defunct school for boys in marianna involving teenage boys sent here decades ago, some never seen again. in recent years former students in "twilight" years have come forward with horrific stories of punishing aaabuse doled out by school leaders and friends that vanished, stories told by cnn. they accused former school leaders of beatings, sexual abuse and even murder. which brings us to this cemetery on the school's grounds. the bodies of 31 boys are buried here. florida authorities claim they know how all the boys died, some killed in a fire and symptom in a flu
he's going to talk about the economy and fiscal cliff within the hour. we'll go to that live. >>> first to florida. that's where we learn new details about a long running mystery. in the town marianna and they have found more grave sites on the grounds a school that closed last century. nobody knows how many boys may be buried there and what abuse he suffer the at that school. ed lavandera spent years investigating the story, and he has the details. >> a mystery haunting the...
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that's how we grow an economy. i want us to bring down our deficits but i want to do it in a balanced, responsible way. and i want to reward -- i want -- businesses and manufacturers like detroit diesel, right here, creating jobs, right here, in redford, right here in michigan, right here in the united states of america. that's where we need to go. that's the country we need to build. and when it comes to bringing up manufacturing back to america, that's why i'm here today. since 1938, detroit diesel has been turning out some of the best engines in the world. over all those years, generations of redford workers have walked through these doors. not just to punch a clock, not just to pick up a paycheck, not just to build an engine, but to build a middle class life for their families, to earn a shot at the american dream. for 7 1/2 decades, through good times and bad, through revolutions and technology that sent a lot of good jobs, manufacturing jobs overseas, men and women like you, your parents, maybe even your gran
that's how we grow an economy. i want us to bring down our deficits but i want to do it in a balanced, responsible way. and i want to reward -- i want -- businesses and manufacturers like detroit diesel, right here, creating jobs, right here, in redford, right here in michigan, right here in the united states of america. that's where we need to go. that's the country we need to build. and when it comes to bringing up manufacturing back to america, that's why i'm here today. since 1938, detroit...
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an i buss in the plants and here's an opportunity to give back, you know, something to the american economy. the way you look at things is, you know, the company is going to be spending $100 million in terms of bringing back jobs to the u.s. some may say $100 million, you know, is not a lot of money considering that apple has more than $100 billion in the bank. but i think this is a positive sign in terms of how many workers we're talking about here -- >> how many jobs? >> reporter: we don't know precisely or the skills necessary. it's a great question. probably in the thousands of jobs. remember, this is one existing mac line. this is not the iphone or ipad. one line but probably in the thousands, brooke. >> in the thousands. and so, apple chock eed up the one-day stock drop. do you think the shift, has to be a profitable move for apple hopefully. >> reporter: well, you know, there are two ways of looking at it. you are using cheap labor in china. not going to have that in the united states and also you're talking about adding infrastructure costs. how that might impact the bottom line, yo
an i buss in the plants and here's an opportunity to give back, you know, something to the american economy. the way you look at things is, you know, the company is going to be spending $100 million in terms of bringing back jobs to the u.s. some may say $100 million, you know, is not a lot of money considering that apple has more than $100 billion in the bank. but i think this is a positive sign in terms of how many workers we're talking about here -- >> how many jobs? >> reporter:...
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what impact will that have on the economy overall? and really, quite frankly, if these tax cuts expire for everyone, it means the middle class will see an enormous tax increase upwards of $2,200 per family on average. that's unacceptable either. my sense is that, having been around for 14 years, we will get to some point of an agreement. the real will be whether john boehner will rely on democratic votes to get this passed. >> i guess the question is -- and everybody would agree on the tax thing. taxing the middle class, there's nobody standing up and saying, yes, taxes should go up on the middle class. let's put that in one category. the next category, which "the wall street journal" points out, is the spending issue. what gets cut? if we have a spending deficit of $1.3 trillions. we're over on our budget $1.3 trillion. what aggressively will democrats bring to the table for cuts realistically once the tax issue is passed? >> well, i can think of something that should have been done a while ago, which is that there should be a change
what impact will that have on the economy overall? and really, quite frankly, if these tax cuts expire for everyone, it means the middle class will see an enormous tax increase upwards of $2,200 per family on average. that's unacceptable either. my sense is that, having been around for 14 years, we will get to some point of an agreement. the real will be whether john boehner will rely on democratic votes to get this passed. >> i guess the question is -- and everybody would agree on the...
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when americans spend, carol, the economy grows. that ends up translating to investors as being more confident. confident enough to buy into the market. since most 401(k)s closely track the s&p 500, this 10% to 15% rise cohen is expecting would be great for your retirement savings. if you start the year with, say, $30,000 and the index gains 15%, you're looking at almost $5,000 in gains. so it probably won't surprise you that the fiscal cliff, though, is a concern. but, you know what, cohen says even if the market is shaky at the start of 2013, the gains the second half of the year will make up for it. carol? >> that's a pretty rosie outlook. there must be a counter argument. all the other -- i hear such dire things. >> of course. you know, there are other big financials that release their outlooks, too, carol. most are generally positive, though. there are some pessimists out there. wells fargo strategists expects stocks to decline next year and points to slowing growth and uncertainty about the economy. expects just a modest gain
when americans spend, carol, the economy grows. that ends up translating to investors as being more confident. confident enough to buy into the market. since most 401(k)s closely track the s&p 500, this 10% to 15% rise cohen is expecting would be great for your retirement savings. if you start the year with, say, $30,000 and the index gains 15%, you're looking at almost $5,000 in gains. so it probably won't surprise you that the fiscal cliff, though, is a concern. but, you know what, cohen...
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first, let me tell you what's going right in the economy for consumers. there's a whole host of things. the job markets, 7.7% unemployment, the lowest in four years. you've got the housing market showing signs of recovery. rising home values in much of the country. gas prices, did you notice? they're down 46 cents over the past couple of months. they're expected to keep going lower and the dow is up 20 points now. the dow is above 1,300 and the s&p 500 is up 12% this year. so, what could go wrong? fiscal cliff. this is something weighing op consumer sentiment and we're starting to see it in the weekly -- look at this -- 39% said it would affect it some. they don't seem to have much faith in congress to fix it and any time except 11th hour and maybe a week into the new year and there's this payroll tax holiday that most people have been enjoying now for well over a year. almost two years now. it's about 20 for somebody who earns say $50,000, but they're getting extra because the payroll tax deduction has been changed a little. they're getting a break on th
first, let me tell you what's going right in the economy for consumers. there's a whole host of things. the job markets, 7.7% unemployment, the lowest in four years. you've got the housing market showing signs of recovery. rising home values in much of the country. gas prices, did you notice? they're down 46 cents over the past couple of months. they're expected to keep going lower and the dow is up 20 points now. the dow is above 1,300 and the s&p 500 is up 12% this year. so, what could go...